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The global next-generation firewall (NGFW) market reached a value of US$ 4.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.6 Billion by 2027, exhibiting a CAGR of 13.83% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
The NGFW refers to the third generation of network firewalls that manages and secures data transmitted from routers, servers and switches. It is often integrated with intrusion prevention and cloud-delivered threat intelligence and utilizes whitelists or signature-based intrusion detection systems (IDS) to distinguish between safe and unwanted applications. In comparison to the previously used firewalls, NGFW can use both dynamic and static packet filtering that ensures the advanced security of the connections in the network. Owing to this, these solutions find extensive applications across the banking, financial services and insurance (BFSI), government and public sector, retail, healthcare, education, information technology (IT), energy and manufacturing industries.
The rising threat of cyberattacks, along with the rapid adoption of the internet of things (IoT) technology across various industries, is one of the key factors driving the growth of the market. Owing to the increasing usage of bring your own device (BYOD), smartphones, social media, and cloud services, there is a significant rise in the instances of data thefts. This is encouraging organizations to adopt advanced security measures, such as NGFW, for data protection. Furthermore, increasing product adoption by the BFSI sector is acting as another growth-inducing factor. Resulting from an increasing need to protect high volumes of sensitive data, along with the widespread adoption of digital currency across the globe, banking institutions are adopting NGFW to secure payment gateways and transaction portals. Additionally, various technological advancements, such as the development of highly configurable and scalable NGFW systems, are also creating a positive outlook for the market. Other factors, including increasing governmental spending on improving cybersecurity systems and extensive research and development (R&D) activities, are projected to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global next-generation firewall market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, deployment type, security type, organization size and vertical.
Breakup by Type:
Breakup by Deployment Type:
Breakup by Security Type:
Breakup by Organization Size:
Breakup by Vertical:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Barracuda Networks Inc., Check Point Software Technologies, Cisco Systems, Forcepoint LLC, Fortinet Inc., Gajshield Infotech Pvt Ltd., Hillstone Networks Co., Juniper Networks Inc., Palo Alto Networks Inc., Sonicwall Inc., Sophos Ltd. and Zscaler Inc., etc.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Deployment Type, Security Type, Organization Size, Vertical, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Barracuda Networks Inc., Check Point Software Technologies, Cisco Systems, Forcepoint LLC, Fortinet Inc., Gajshield Infotech Pvt Ltd., Hillstone Networks Co., Juniper Networks Inc., Palo Alto Networks Inc., Sonicwall Inc., Sophos Ltd. and Zscaler Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global next-generation firewall (NGFW) market was valued at US$ 4.4 Billion in 2021.
We expect the global next-generation firewall (NGFW) market to exhibit a CAGR of 13.83% during 2022-2027.
The rising applications of Next-Generation Firewall (NGFW) system across the BFSI sector to protect sensitive data as well as secure payment gateways and transaction portals are primarily driving the global next-generation firewall (NGFW) market.
The sudden outbreak of the COVID-19 pandemic has led to the rising deployment of remote working and BYOD models resulting in the increasing demand for next-generation firewall systems across several organizations to ensure the advanced security of the connections in the network.
Based on the type, the global next-generation firewall (NGFW) market can be segmented into solutions and services. Currently, solutions hold the majority of the total market share.
Based on the deployment type, the global next-generation firewall (NGFW) market has been divided into cloud-based and on-premises, where cloud-based deployment currently exhibits a clear dominance in the market.
Based on the security type, the global next-generation firewall (NGFW) market can be categorized into firewall, unified threat management, network security, identity based security, and others. Among these, firewall accounts for the majority of the global market share.
Based on the organization size, the global next-generation firewall (NGFW) market has been segregated into Small and Medium Enterprises (SMEs) and large enterprises. Currently, large enterprises hold the largest market share.
Based on the vertical, the global next-generation firewall (NGFW) market can be bifurcated into Banking, Financial Services and Insurance (BFSI), IT and telecom, government and public utilities, retail, education, healthcare, energy and utilities, and others. Among these, the Banking, Financial Services and Insurance (BFSI) sector currently exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global next-generation firewall (NGFW) market include Barracuda Networks Inc., Check Point Software Technologies, Cisco Systems, Forcepoint LLC, Fortinet Inc., Gajshield Infotech Pvt Ltd., Hillstone Networks Co., Juniper Networks Inc., Palo Alto Networks Inc., Sonicwall Inc., Sophos Ltd., Zscaler Inc., etc.
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